Two parliamentary sources warned on Saturday of a “conspiracy” to raise the exchange rate of the dollar against the Iraqi dinar, which could cause the destruction of the economy and low-income segments.
A member of the Parliamentary Economy and Investment Committee, Mahmoud Al-Zajrawi, told Shafaq News, “There are attempts to raise the exchange rate of the dollar in the Iraqi market, so that every 100 dollars has 150 thousand Iraqi dinars,” noting that “manipulating exchange rates will mainly affect the simple citizen.”
He added that “any attempt or manipulation by the government in the exchange rate of the dollar against the Iraqi dinar will affect the Iraqi economy,” noting that “this measure is a conspiracy and would destroy the Iraqi economy in light of low oil prices and the Corona pandemic.”
For his part, Naji Al-Saidi, a member of the Parliamentary Finance Committee, said in a tweet on Twitter, “The central bank’s use of the new cash issuance to finance internal borrowing to bridge the budget deficit will lead to an increase in the exchange rate of the dollar against the dinar.”
He added that “this matter will lead to an increase in commodity prices,” noting that “the only beneficiary of this process is the participating banks in the window of sale of the process.”
He concluded his tweet, saying that this approach is “legal theft of the people’s money.”
And Saturday, the exchange rates of the dollar in the Baghdad markets increased significantly, as the Central Kifah Stock Exchange in Baghdad recorded 125,700 Iraqi dinars against 100 US dollars, and Al-Harithiya Stock Exchange in Baghdad recorded 125,700 dinars against 100 dollars.
Last Thursday, the Central Kifah Stock Exchange in Baghdad recorded 124,400 Iraqi dinars against 100 US dollars.
According to the correspondent of Shafaq News Agency, the selling and buying prices also increased in the exchange shops in the local markets in Baghdad, where the selling price reached 126,250 Iraqi dinars, while the purchase prices reached 125,250 dinars per 100 US dollars.